When you are a smart investor and a loyal romantic partner at the same time, you may think of combining the two and investing together as a couple. As they say, ‘the more the merrier’, the financial decisions are expected to get better when taken in consultation with your spouse.
Although there is no auspicious day to start an insurance plan or an investment, one may take the Valentine’s Day as a milestone to not only strengthen your love and relationship but also your financial growth.
Experts also advise that investing as a couple is wise and prudent thing to do. “Ideally, it is always better to work on finance together. When a couple looks at their finance collectively, it helps them to plan their savings and investment in a better way. The biggest advantage of following this approach is both are well aware of the status and progress of their finance. At the same time, it also gives them a clear visibility of where they are heading,” says Harshad Chetanwala, Co-founder of My Wealth Growth.
If you are also planning to tread the path shown by Mr Chetanwala, you can explore one of these investment options.
1. You can buy some securities of the companies whose products you both love.
2. On the Valentine’s Day or during the week, you can either buy a new term insurance plan or a ULIP (unit linked insurance plan) to secure your future.
3. You may also buy a combined medical cover even if you are covered from office because you would someday quit your job or change your employer later. This could put your plans into jeopardy.
4. If you have jointly bought a new house, you can even consider taking an insurance cover on your property to get insured against theft and fire etc.
5. In the era of digital currencies, you can coincide your joint crypto purchases on the Valentine’s Day to create a memory you would cherish in the time to come.
6. You can even coincide the Valentine’s week to buy some physical assets such as gold and expensive watch.
We can see that there are scores of options available to jointly commit investment by couple. What really matters is whether you have an inclination to invest now and enjoy later, or you believe in splurging now to make your present more wholesome and enriching.